A Derry company that manufacturers specialised steel products used in quarrying and construction sectors is to invest £1.9 million in an expansion project that is expected to create 61 jobs.
Global Equipment Spares Limited, which is based in Campsie, manufactures high-strength and resistant steel products employed in a number of industries.
John McClenaghan, managing director of the company, said it was looking to grow its business primarily from export markets.
It currently sells to customers across Europe and the United States, including major material handling groups such as Terex and McCloskey International and companies such as Kleemann Wirtgen and Kuhn Farm Machinery.
Mr McClenaghan said: “This expansion is part of a strategy to grow sales and increase both our workforce and our product offering to meet identified opportunities within new and existing markets.
“We have set ourselves a challenging target for new export business and will be focused on leveraging our reputation in the industry to secure new customers.”
Invest NI’s Jeremy Fitch, executive director of business and sector development, said the agency was providing £396,000 of financial support towards the cost of the investment project.
Mr Fitch added: “The 61 new jobs being recruited over the next three years range from manufacturing roles to procurement and sales positions and will generate £1.3 million annually in additional salaries.
“GES’s investment marks a significant step change for the small business as it seeks to scale up its production capabilities to meet the growing opportunities for its products outside Northern Ireland.”
